Your division is considering two investment projects, each of which requires an up-front expenditure of $28 million. You estimate that the cost of capital is 11% and that the investments will produce the following after-tax cash flows (in millions of dollars):

Year	Project A	Project B
1	6	18
2	10	12
3	15	8
4	22	5

1. What is the regular payback period for each of the projects? Round your answers to two decimal places.
2. What is the NPV and IRR for each of the projects? Round your answers to two decimal places.
3. If the two projects are independent and the cost of capital is 11%, which project or projects should the firm undertake?
4. What is the crossover rate? Round your answer to two decimal places.
5. If the two projects are mutually exclusive and the cost of capital is 5%, which project should the firm undertake?
6. If the cost of capital is 11%, what is the MIRR of each project? Round your answers to two decimal places.